Giroud claims he rejected Chelsea

first_imgArsenal new boy Olivier Giroud has claimed that he turned down a move to Chelsea in order to sign for the Gunners.The France international, 25, completed a transfer to the Emirates Stadium from Montpellier this week.“The choice was between Chelsea and Arsenal. I chose Arsenal because of the club’s philosophy and stability,” he told French television channel TF1.“It is something that means a lot for me. I’ve always dreamed of playing in the Premier League and Arsenal are a great club with many French players.”Follow West London Sport on TwitterFind us on Facebooklast_img

New houses for Elliot Dale residents

first_img2 October 2012 After years of waiting, residents of Elliot Dale in the Eastern Cape have finally received new houses to replace the mud structures they used to call home. Two hundred houses were recently handed over, in the first phase of the a multi-million rand Elliot Dale Rural Sustainable Human Settlements Project, to beneficiaries who qualify for the government housing subsidy grant, falling in the R3 500 to R7 500 income bracket. While phase one saw the construction of 200 units, phase two will result in another 800. At the end of the project, 7 000 new homes will have been built, along with new sanitation, a sports field and a community centre. Eastern Cape Human Settlements MEC Helen Sauls-August, who handed over the houses, said it marked an important era in the rural development agenda for Elliot Dale, Mbhashe and the broader Eastern Cape. “This handover will clearly contribute to an improved household life and a complete human settlements project with a sport field and a community centre for this village. This is one of the few projects to have such amenities in our province,” Sauls-August said. The MEC urged those involved in the project to work hard to ensure that people were not forced to wait any longer than they had to for the services they had a right to. The project had created 25 job opportunities for semi-skilled labourers, 22 for skilled labourers, 64 for youth, 68 for women and 90 for men. With 7 000 beneficiaries expected to have new houses by the time for project is complete, many more employment opportunities are expected to come the way of local people. In July 2011, the Cabinet had identified the 21 poorest district municipalities throughout the country, and the Amathole District – under which Elliot Dale and the Mbashe Local Municipality fell – was among these. A number of projects were being implemented in the area. These included household water connection across the Mbashe Local Municipality, including Elliot Dale; a housing project in Elliot Dale and the completion of 25 household gardens. In addition, 50 hectares of arable land had been cultivated, and the Eastern Cape Department of Rural Development and Agrarian Reform was supporting the Elliot Dale community with agricultural inputs, with 10 km of fencing of arable lands having been completed and 15 cooperatives having been registered. Source: SANews.gov.zalast_img read more

Wanda stock skyrockets after 54bn Tencent tieup

Hong Kong shares linked to troubled Chinese conglomerate Wanda surged 52 percent Tuesday after the company announced a $5.4-billion stake sale and retail tie-up with investors including internet giant Tencent. Explore further It is the latest move by Wanda boss Wang Jianlin—once China’s richest man—to sell off parts of his real estate empire following a rapid diversification that left the firm mired in debt and under the scrutiny of government regulators.Wanda Group will sell 14 percent of Wanda Commercial Properties, China’s largest shopping mall operator and the group’s flagship, for 34 billion yuan ($5.4 billion).Led by Tencent, the buyers will include leading retailer Suning, ecommerce company JD.com, and real estate giant Sunac, Wanda said in a statement late Monday.The hook-up with the likes of Tencent and JD.com signals a change in strategy for Wanda—moving away from property development and wading into the rapidly evolving Chinese retail sector.The news sent the Hong Kong shares of its hospitality arm Wanda Hotels—its main publicly-listed entity—skyrocketing.The stock leapt 52 percent early Tuesday before falling back to HK$1.72, up 27 percent, just before noon.The group said Wanda Commercial Properties “will stop engaging in property development and will transform into a company solely focused on commercial management.” Wanda would look to take the company—which will be rechristened Wanda Commercial Management—public “as soon as possible.” Wang had delisted Wanda Commercial from the Hong Kong exchange in 2016 due to low valuations.The conglomerate’s statement said Wanda Commercial would combine its “vast shopping mall assets” with the retail and internet power of Tencent, Suning, and JD.com, to “jointly build a ‘new consumption’ model in China that will integrate both online and offline services.””This represents one of the world’s largest single strategic investments between Internet companies and brick-and-mortar commercial giants,” Wanda said.Those plans would likely put them in competition with Alibaba, the Chinese e-commerce titan that is pressing ahead with plans to extend its influence in the bricks-and-mortar sphere. Wanda Group had diversified rapidly in recent years from commercial property into entertainment, theme parks, sports and other sectors, but is now squeezed by debts run up through a series of massive, high-profile foreign acquisitions.Wanda and other Chinese conglomerates that expanded quickly overseas have come under official scrutiny as Beijing clamps down on capital flight and skyrocketing debt.Wanda has been selling off assets after reports said authorities advised banks to avoid loans to the group.Among other divestments, last year it sold dozens of hotels and other projects to Sunac and real estate firm R&F Properties for around $10 billion. © 2018 AFP Chinese e-commerce rivals challenge Alibaba (Update) Wang Jianlin, once China’s richest man, has been selling off parts of his real estate empire following a rapid diversification that left the firm mired in debt Citation: Wanda stock skyrockets after $5.4bn Tencent tie-up (2018, January 30) retrieved 18 July 2019 from https://phys.org/news/2018-01-wanda-stock-skyrockets-54bn-tencent.html This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only. read more